Post Office Recurring Deposit Account

URI: https://gptkb.org/entity/Post_Office_Recurring_Deposit_Account
GPTKB entity
Statements (23)
Predicate Object
gptkbp:instanceOf Recurring Deposit Account
gptkbp:accountOpening At any post office in India
gptkbp:accountTransfer Allowed between post offices
gptkbp:benefit No tax benefit under Section 80C
gptkbp:compoundingFrequency Quarterly
gptkbp:country gptkb:India
gptkbp:frequency Monthly
https://www.w3.org/2000/01/rdf-schema#label Post Office Recurring Deposit Account
gptkbp:jointAccount Allowed (up to 3 adults)
gptkbp:mainInterest 6.7% per annum (as of 2024)
gptkbp:maturityAmount Depends on monthly deposit and interest rate
gptkbp:maximumLoanAmount Available up to 50% of balance after 1 year
No upper limit
gptkbp:minimumInvestment ₹100 per month
gptkbp:minorAccount Allowed (above 10 years)
gptkbp:missedDepositPenalty ₹1 for every ₹100 per month
gptkbp:nominationFacility Available
gptkbp:offeredBy gptkb:India_Post
gptkbp:prematureClosure Allowed after 3 years
gptkbp:tenure 5 years
gptkbp:withdrawalOnMaturity Principal plus interest paid on maturity
gptkbp:bfsParent gptkb:Post_Office_Savings_Schemes
gptkbp:bfsLayer 7